A review of the measures of the stock of human capital used in empirical growth research reveals that human capital is mostly poorly proxied. The simple use of the most common proxy, average years of schooling of the working-age population, misspecifies the relationship between education and the...

This paper investigates the relationship between the size of government and economic growth in OECD countries in 1960?2000. The underlying idea is that government expenditures on public goods basically have a positive effect on growth, but this growth effect tends to decline or even reverse when...

This paper aims at better understanding the inefficiency due to distributional conflicts, which are inherent in every market economy. To this end, we set up a simple general equilibrium model with the following characteristics: two groups of agents (capitalists and workers), an endogenous income...

We estimate the relative roles of factor inputs and productivity in explaining the level of economic development, which is measured as output per worker. For a large sample of countries, we show that alternative identifying productivity assumptions and alternative measures of human capital have...

In this paper it is shown that it matters a lot for empirical research whether policy is taken to be exogenously set or to be endogenous. In the model investment depends on policy which depends on economically important fundamentals and is, thus, endogenous. Conditioning on factor accumu- lation...

In dieser Arbeit wird ein Überblick über einige Kernaussagen der ''Neuen Wachstumstheorie'' über den Zusammenhang von Wissen und wirtschaftlicher Entwicklung gegeben. Ausgehend von der ''neoklassischen'' Wachstumstheorie wird die Bedeutung von Wissen in Prototypen endogenen Wachstums der...

Many writers have claimed that R&D has two 'faces'. In addition to the conventional role of stimulating innovation, R&D enhances technology transfer by improving the ability of firms to learn about advances in the leading edge ('absorptive capacity'). In this paper we document that there has...

This paper empirically investigates the effectiveness of competition policy by estimating its impact on Total Factor Productivity (TFP) growth for 22 industries in 12 OECD countries over the period 1995-2005. We find a robust positive and significant effect of competition policy as measured by...

This paper, using a cumulative growth model and a catch-up model, verifies the cumulative relationship between IT investment and economic growth, and then examines whether this relationship enlarges the differences in the economic growth among OECD countries. We observe the following results:...